Business | Daily | Tourist
INFORMATION SERVICES

 

NICOSIA — Cyprus has raised the limit on individuals’ money transfers abroad from 50,000 euros to 1 million euros ($1.1 million) in another, significant loosening of the bailed-out country’s few remaining capital controls still in place.

The finance ministry said Friday the new limit applies to transfers by any one person from any bank.

Cyprus had enacted the limits — such as a 300 euro daily withdrawal cap — in March 2013 to prevent a bank run after an international bailout forced depositors to give up part of their savings in the country’s two largest banks to support the financial sector.

Last week, Central Bank Governor Chrystalla Georghadji said the “two or three” remaining capital controls will be lifted by the end of the “first quarter of this year.”

Source: The National Herald
Share it now!
More
Who We Are

GQS acts as an “information representative” providing a variety of accurate and authoritative analytics and responses About Greece. Our field of expertise ranges from simple Daily Life questions related to Tourism or the History of Greece, up to large Business related projects such as Economic Research, Human Resources Selection or Real Estate Services.

Find out more

Contact Us

Are you interested in obtaining any kind of information about Greece?

Let us help you!

If your requirements go beyond simple services and you want specialized information, you will receive a detailed email for any charges.

  • Weather

    Locations:
    Athens
    October 23, 2017, 9:24 am
    Sunny
    Sunny
    14°C
    real feel: 15°C
    current pressure: 1010 mb
    humidity: 87%
    wind speed: 0 m/s N
    wind gusts: 0 m/s
    UV-Index: 1
    sunrise: 7:41 am
    sunset: 6:37 pm
     
  • Currency